How to use a Bitcoin ATM?

If you are a proud owner of Bitcoins then you have landed to the right place, here, in this article, you will get to learn the mechanism of Bitcoin ATM and we will also discuss about the locations if you are searching for Bitcoin ATM near me along with the process to buy or sell the Bitcoins. However, we will start with an explanation of Bitcoin ATM and how it is important.

Bitcoin ATM

What is a Bitcoin ATM?

The Bitcoin ATM is much like a normal traditional ATM that delivers you normal currencies the moment you use a debit or credit card to withdraw currencies such as INR, EUR, USD and other. Like the traditional ATM machines, these Bitcoin ATMs allows you to withdraw the Bitcoins from it and then further assist you to convert the Bitcoins into the fiat currencies.

How does a Bitcoin ATM work?

You can buy or sell the Bitcoins with the help of this machine; you do not need to have a KYC or AML to transact using a Bitcoin ATM that means it’s a very good way to protect your identity and privacy. The Bitcoin ATM typically charge between 7 to 10 percent for trading Bitcoin. However, to access the Bitcoin ATM you need to consider the most important part is the low number of Bitcoin ATMs present across the globe.

How to find Bitcoin ATM near me?

To find the Bitcoin ATM near you, one can use the Coin ATM Radar service that will provide you the options of searching ATMs nearby using the live worldwide location on the Bitcoin ATM map. With the Bitcoin ATM map services you can:-

  • Trace down the Bitcoin ATM map.
  • Search for the Bitcoin ATMs nearer to your location.
  • You can get all the needful details about that AT.
  • You can get the directions from your location to the respective ATM machine.

Note: You can also reach up to Bitcoin’s official website that will give you more detailed information about cardtronics ATM Bitcoin and the features that will give you a live map of ATMs.

How to trace Bitcoin ATM locations via an official website?

For this, you just need to follow the steps mentioned below:-

  1. Firstly, you need to add your location/city and then click on “Enter” to search for the ATMs.
  2. Now, select the nearest ATM machine and click on it to see the details.
  3. You have to click on the “Get Directions” to learn the Google maps location and directions.

How to Buy or sell the Bitcoin using ATMs?

Buying and selling cryptocurrencies and be tricky sometimes as there are different types of Bitcoin ATM machines. We will discuss how you can withdraw money from Genesis 1 as it is one of the most commonly recommended ATM machines. Some of the commonly installed Bitcoin ATM machines are as follows:-

  • Genesis1 Bitcoin ATM
  • Satoshi1 Bitcoin ATM
  • Satoshi2 Bitcoin ATM
  • Lamassu Bitcoin ATM
  • Lamassu with Santo Tirso
  • BATM2 Bitcoin ATM
  • BATM3 Bitcoin ATM
  • BitAccess Bitcoin ATM
  • BitXATM Bitcoin machine
  • Robocoin kiosk
  • Skyhook Bitcoin machine

How to buy Bitcoin from Genesis 1 Bitcoin ATM?

For buying the Bitcoins, using the ATMs, you just need to follow the steps below:-

  1. For this, you firstly need to click on the “Buy Bitcoin”.
  2. And then choose the type of the coin (e.g Bitcoin)
  3. Now, click on the “Scan QR” option.
  4. After this scan, the QR of the wallet and insert cash bills.
  5. Click on the “Finish” button.
  6. Now take the printed script.

How to sell Bitcoins from Genesis 1 Bitcoin ATM?

If you wish to sell the Bitcoins using Bitcoin ATM, then follow the steps:-

  1. For selling Bitcoins, you need to click on the withdraw cash option.
  2. Click on the “Bitcoin” option.
  3. Now, choose the amount that you wish to withdraw.
  4. After this, scan QR code and send the Bitcoins to the given address from your mobile wallet.
  5. Now, collect the respective cash.

How to withdraw money from Bitcoin ATM?

For withdrawing money from your Bitcoin wallet or account, you just need to follow the steps mentioned below:-

  1. You always need to have a Bitcoin account to operate the Bitcoin ATM.
  2. Once you have created the account you need to search a 2-way Bitcoin ATM near you.
  3. If you want to withdraw the cash that means you already own Bitcoins.
  4. You just need to have the wallet address where your Bitcoins are stored.
  5. It is suggested to select the one key if you have multiple wallets or keys.
  6. Now, log in to your account and select the option to “Withdraw cash” option.
  7. After this, you have to enter the amount of cash that you want to withdraw and send Bitcoin to the wallet address.
  8. Once your transaction is confirmed, you can collect the cash within 30 minutes.

Point to remember: – All the Bitcoin operators charge a fee for accessing Bitcoin ATM machines for buying and selling the Bitcoins. The fee is deducted from the amount you are about to withdraw.

Conclusion:

It is a tricky task to operate the Bitcoin ATM; however, some of the Bitcoin ATMs make your work simpler. As they provide you a mechanism in which you have to scan your ID documents and enter the phone number for the KYC purposes. But this usually happens when you are purchasing the Bitcoins in large quantities. So, technically, it is beneficial to use the Bitcoin ATM if you are associated with its trading and exchange practices. In the end, it is suggested to visit the official website of Bitcoins where you can also get the information related to Bitcoin ATM for sale.

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